In fact, the number of Chinese investors interested in buying Thai property has doubled from Q3 of last year and is more than 30% higher than the previous quarter.

The record high in property inquiries is a little surprising seeing how the amount of tourists coming from mainland China to Thailand has dropped substantially due to a recent boat tragedy that saw dozens of Chinese tourists killed.

According to leading Thailand real estate lawyers, close relations between the two countries and the relatively low costs in Thailand has kept the trend of wealthy Chinese investors purchasing Thai property chugging along unabated.

Foreign nationals are permitted to own condo units in Thailand so long as they do not exceed 49% foreign ownership.